An investor tracks A-share performance in Fuzhou, capital of East China's Fujian Province, on Monday. Photos: CNSphoto

Chinese tourism and hotel stocks fell at the opening of Thursday, the first trading day of the stock market, following positive travel data over the May Day holidays from May 1 to 5 that saw over 230 million passenger trips. The slump was triggered by callback following the rally before the holidays and market worries of the pandemic in India, analysts said.

The Shanghai Composite Index fell by 0.52 percent to 3427.50 points while the Shenzhen Component Index dipped by 2.41 percent to 14088.98 points as of press time.

Leading the slump are some of China's most popular stocks in tourism and hotel sectors, with Guilin Tourism Corp, Zhang Jia Jie Tourism Group and Beijing Capital Tourism Co falling by over 9 percent as of press time.

Yang Delong, chief economist at Shenzhen-based First Seafront Fund Management Co, also told the Global Times that the share slump is price correction following a rally before the holidays. It was also exacerbated by investors' concern over the COVID-19 pandemic in India which is generating negative sentiment toward International travel and tourism.

"The slump of hotel and tourism sectors is largely triggered by limited international tourism caused by the global pandemic," Yang said.